{"id":842183,"date":"2025-11-06T11:00:00","date_gmt":"2025-11-06T09:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=842183"},"modified":"2025-11-06T11:08:48","modified_gmt":"2025-11-06T09:08:48","slug":"another-r480-million-shopping-mall-sold-in-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/842183\/another-r480-million-shopping-mall-sold-in-south-africa\/","title":{"rendered":"Another R480 million shopping mall sold in South Africa"},"content":{"rendered":"\n

The Competition Commission has approved the sale of Soweto’s Protea Gardens Mall to Luxanio Trading, a subsidiary of Dipula Properties.<\/p>\n\n\n\n

The commission has recommended that the Competition Tribunal approve the proposed transaction whereby Luxanio intends to acquire the mall.<\/p>\n\n\n\n

Luxiano is a wholly owned subsidiary of Mergence Africa Property Ltd, a group that merged with JSE-listed Dipula Properties in 2011.<\/p>\n\n\n\n

Dipula announced in July 2025 that it had acquired R700 million worth of assets, including the R480 million Protea Gardens Mall, the largest asset among those acquired.<\/p>\n\n\n\n

Dipula is a South Africa-focused REIT with a defensive portfolio and more than two-thirds of its income from retail centres in townships, rural areas, and urban convenience nodes.<\/p>\n\n\n\n

Protea Gardens Mall is being acquired from Protea South, which is a wholly owned subsidiary of Pietersburg Property Development (Pty) Ltd.<\/p>\n\n\n\n

The mall, a 24,000 square metre community retail centre, is located at the corner of Alekhine Street and Old Potchefstroom Road, Protea South, Soweto, Gauteng. <\/p>\n\n\n\n

It is anchored by national retailers including Shoprite, Boxer and Cashbuild, as well as several fashion retailers.<\/p>\n\n\n\n

The mall boasts over 70% national tenant occupancy, presenting income durability. <\/p>\n\n\n\n

At the time of the announced acquisition, Izak Petersen, CEO of Dipula Properties, said that the mall presents an “excellent strategic fit for Dipula with embedded growth and value unlock potential, underpinned by quality tenants and a growing consumer market\u201d.<\/p>\n\n\n\n

The Competition Commission approved the sale and recommended that the Competition Tribunal process it without conditions.<\/p>\n\n\n\n

“The commission is of the view that the proposed transaction is unlikely to substantially lessen or prevent competition in any market. The proposed transaction does not raise significant public interest concerns,” the commission said.<\/p>\n\n\n\n

Other shopping malls sold<\/h2>\n\n\n\n

In addition to the Protea Gardens Mall getting approval, the Competition Commission also approved the sale of two other shopping malls.<\/p>\n\n\n\n

The commission approved the sale of the Laborie Shopping Centre in Paarl to Ipic Properties and the Arcon Park Shopping Centre in Vereeniging to Reimagine.<\/p>\n\n\n\n

The Laborie Shopping Centre is a smaller 4,000 square metre convenience centre in Paarl, previously owned by Dorpstraat Properties.<\/p>\n\n\n\n

The Arcon Park Shopping Centre is a much larger retail centre previously owned by the Cavaleros Group. It was refurbished in 2018.<\/p>\n\n\n\n

In both cases, the commission said it was of the view that the transactions are unlikely to impact competition in any market, and any public interest concerns raised have seen the purchasers make commitments to address them.<\/p>\n\n\n\n

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Laborie Shopping Centre<\/h2>\n\n\n\n
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Arcon Park Shopping Centre<\/h2>\n\n\n\n
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Protea Gardens Mall<\/h2>\n\n\n
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\n","protected":false},"excerpt":{"rendered":"

The Competition Commission has approved three new mall sales in South Africa, including a major R480 million centre in Soweto.<\/p>\n","protected":false},"author":10,"featured_media":835454,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[],"class_list":["post-842183","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/842183","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=842183"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/842183\/revisions"}],"predecessor-version":[{"id":842199,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/842183\/revisions\/842199"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/835454"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=842183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=842183"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=842183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}